In 2024, Brazil exported 1.37 million tons of soybean oil, yielding USD 1.31 billion in revenue. India was the main destination country, accounting for 58% of the total volume, followed by China, Bangladesh, Algeria, and Venezuela. Production is estimated at 11.37 million tons for the 2024-25 crop year. The figures reflect Brazil’s consistent input to the global supply of soybean oil and the increasing demand from key international markets.
Production Overview
Soybean oil production in Brazil is expected to reach 11.37 million tons in the 2024-25 crop year. This volume reflects the scale of soybean processing in the country, which is one of the largest global producers of both soybeans and their derivative products. The oil is obtained primarily in industrial extraction facilities located in major producing states such as Mato Grosso, Paraná, Goiás, and Rio Grande do Sul.
Most of the soybean oil produced in Brazil—around 9.87 million tons or 87% of total output—is intended for domestic consumption, particularly for food processing and household use. The remaining share is exported to meet international demand. The oil is one of the key outputs of the soybean crushing process, alongside soybean meal, within an integrated production chain that marks the Brazilian soybean industry.
Export Performance and Key Markets
In 2024, Brazil exported 1.37 million tons of soybean oil, yielding a total of USD 1.31 billion in export revenue. The largest share of this volume was shipped to India, which alone accounted for 788,000 tons, or 58% of total exports. Other significant destination countries included China (150,600 tons), Bangladesh (141,400 tons), Algeria (107,500 tons), and Venezuela (63,600 tons).
The percentages of exports reflect robust demand from both Asian and North African markets. In particular, India remains a consistent buyer, with an increasing need for vegetable oil imports to meet domestic consumption.
Drivers of Competitiveness
Role in Brazil’s agribusiness exports
According to the Brazilian Confederation of Agriculture and Livestock (CNA), the soybean complex—including grains, oil, and meal—accounts for roughly 23% of the country’s total agribusiness exports. This highlights soybean oil as a major product in Brazil’s export agenda and reinforces its strategic significance to the national economy.Production scale
The Brazilian Agricultural Research Corporation (EMBRAPA) expects that soybean crops in Brazil will cover around 47.6 million hectares in the 2024-25 crop year, with an estimated harvest of 169.5 million tons. This scale ensures a steady supply of raw material for crushing and oil production across the country’s main agricultural regions.Processing capacity
Extraction facilities are located near major producing states, such as Mato Grosso, Paraná, Goiás, and Rio Grande do Sul. This geographic configuration, combining production and processing, reduces transportation costs and increases operational efficiency in oil and meal extraction.Technological innovation
EMBRAPA continues to develop new soybean cultivars and improve agronomic practices. Advancements in pest and disease management, seed genetics, and climate adaptation have supported long-term productivity gains, which add to the sector’s competitiveness.Institutional support and data transparency
Agencies such as the National Supply Company (CONAB) and the Ministry of Agriculture, Livestock and Food Supply (MAPA) periodically publish crop projections and production data. These systems provide transparency and help guide market planning and investment decisions throughout the supply chain.
Additional information is also made available by IBGE, through the Municipal Agricultural Survey, and by institutions such as the Brazilian Confederation of Agriculture and Livestock (CNA) and the Center for Advanced Studies in Applied Economics (CEPEA), which regularly release economic indicators, including the Agribusiness GDP.